On Friday, the US Department of Labor released its November jobs report, which has indicated resilience within the job market despite high interest rates. There was strong job growth and wage gains in November, especially in the leisure and hospitality sectors. While some experts have noticed small signs of a weakening economy, overall, fears of a recession have been put at bay. As high prices persist though, the Fed will likely continue to hike interest rates up in its attempts to curb inflation.
See "US labor market remains strong as job growth and wage gains continue despite fears of a recession", Lucia Mutikani, Reuters, December 2, 2022